Nov 12, 2010

Daily Headlines: Friday, November 12, 2010

Insurance Journal Daily Headlines
November 12, 2010
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Health Insurers, Drugmakers Oppose Repeal of Obama Healthcare Overhaul

Repeal reform? No thanks, say health insurers, drugmakers and others looking for a clearer picture of the U.S. healthcare market after the...

Competition Picks Up in Insurance Market for the Rich

U.S. insurers are targeting the wealthy as one of the few client groups willing to pay higher rates and buy more policies, and competition...

Class Action Lawyers Wary of Foreclosure Lawsuits

Lenders snarled in the legal thicket over shoddy U.S. foreclosure procedures have so far avoided national class action lawsuits from...

Miles Driven By Seniors Up, Fatal Crashes Down

Transportation experts say miles driven by older drivers are going up and fatal crashes involving seniors are coming down. But experts told...

Ratings Recap: Valiant, General Automobile Permanent General

A.M. Best Co. has affirmed the financial strength rating (FSR) of 'A-' (Excellent) and issuer credit rating (ICR) of "a-" of Valiant...

Program Business Stable But Less Profitable: Guy Carpenter Survey

The current insurance program market is mature and stable, with business estimated at $20 billion, but profitability may be declining,...

From MyNewMarkets.com Chartis Targets Small Businesses for Growth Opportunities

Chartis has worked particularly hard in the last several years on building insurance programs that target very specific areas of business....
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East

Connecticut Firm Must Defend Firing Employee Over Facebook Comments

Federal labor officials have taken aim at a Connecticut ambulance company they allege fired a union employee who posted negative comments...

Ex-New Jersey School Superintendent Enters Not Guilty Plea

The former superintendent of New Jersey's fourth-largest school district has pleaded not guilty to corruption charges. Michael Ritacco...
Midwest

Illinois Faces Physician Shortage Due to Malpractice Liability, Study Warns

Half of all graduating medical residents or fellows trained in Illinois leave the state to practice medicine elsewhere, in large part due to...

Missouri AG, Insurance Chief Target Auto Warranty Firms

Missouri Attorney General Chris Koster said he is amending his lawsuits against three companies that sold bogus auto warranty products by...
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Southeast

Report Confirms Florida Sinkhole Insurance Woes are Deep, Spreading

A new state report confirms sinkhole insurance claims are rising in Florida, costing insurers millions of dollars in payouts and expenses,...

Mississippi Football Player's Pink Cleats Lead to Lawsuit

Attorneys for a Mississippi high school football player have sued the player's school district claiming the athlete was kicked off the team...
Texas / South Central

Texas Work Comp October Enforcement Actions Include Hefty Fines

Final disciplinary actions taken by the Texas Department of Insurance, Division of Workers' Compensation (TDI-DWC) in October include fines...

America First Insurance Honored for Work Comp Performance in Arkansas

America First Insurance, a Liberty Mutual Agency Corporation regional company, announced it was recently recognized by the Arkansas Workers'...
West

$12 Million Recovered for Colorado Insurance Consumers, State Claims

Colorado insurance regulators fielded more than 25,500 inquiries from consumers in the past year, resulting in a total of nearly 5,000...

California City Settles Sexual Harassment Claim Against Cop

The city of Concord, Calif. has agreed to pay $750,000 to settle a sexual harassment lawsuit filed by a former police officer. The City...

Calif. Supreme Court Declines to Take Up Controversial Workers' Comp Case

The California Supreme Court has declined to review the decision in Milpitas Unified School District v. WCAB (Guzman), a case that is being...

Pinnacol CEO Recognized by City Business Journal

Ken Ross, president and CEO of Denver-based Pinnacol Assurance, has been selected as the 2010 Denver Business Journal Power Book recipient...

Sullivan Brokers Names Smith President

Thomas E. Smith has joined Sullivan Brokers Wholesale Insurance Services as president. Most recently, Smith was Great American Insurance...
International

Canada, China Reach Agreement on Insurance Investment

China's insurance regulator has cleared the way to let the country's insurers invest billions of capital in Canadian financial markets, the...

Outcome of G20 Summit in Seoul

World leaders said they would work to tackle global economic "tensions and vulnerabilities" that have raised fears of currency wars and...

Stability Board Says 'Much Work to be Done' to Secure Financial System

The Group of 20's financial taskforce said on Friday there is still much work to be done on its regulation agenda to ensure that financial...

Rolls Royce Engine Scare Highlights Wider Aerospace Risks

Even if the fiery blowout of a Rolls-Royce engine proves no fault of the builder, recent setbacks in aerospace could force investors to...

Catlin's Interim Statement Highlights Premium Gains

The Bermuda-based Catlin Group Limited's interim management statement highlighted some significant premium increases in certain lines. The...

Crawford Italy in Potential Acquisition Discussions with Studio Bolton

Mark Harman, CEO of Crawford & Company for Continental Europe, Middle East & Africa, and Paul Ogni, Country Manager of Crawford...

BrokersLink Appoints Casanueva to Board of Directors

BrokersLink, a major independent insurance broker alliance whose members manage premium volumes in excess of $10 billion, has appointed Juan...

Best Assigns Aioi Insurance Company (China) 'A-' Rating; Outlook Stable

A.M. Best Co. has assigned a financial strength rating of 'A-' (Excellent) and an issuer credit rating of "a-" to Aioi Insurance Company...

Best Affirms Ratings of Lloyd's Syndicate 609 (Atrium); Outlook Stable

A.M. Best Europe – Rating Services Limited has affirmed the Best's Syndicate Rating of 'A' (Excellent) and issuer credit rating of...

Ratings: Global Indemnity/Wind River Re, Connaught, Tugu Triple-S Propiedad, Arab Re

A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of 'B+' (Good) and the issuer credit...
Insurance Journal Blogs

Branding Passion

Recently, I have been working with a client on branding. When you think about creating a brand, where do you begin? The word "Brand" in our...

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Markets in Motion: Environmental Liability Coverage

When the financial crisis and subsequent recession hit, many businesses cut back on expenses...

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New Discussions in the Forums

Average premium volume
Posted: Thu Nov 11 -- Depends on the competition in the area as well. Easy for someone to say you should be able to grow at 500k to 1mil pace per year. Most of... D-man
Advice on purchasing a small agency in California
Posted: Thu Nov 11 -- Wow!!! 2 or 3 times commissions seems pretty high, unless you have an amortization schedule which factors in retention; smaller agencies... jackwehoca
GA's binding responsibility
Posted: Thu Nov 11 -- Heh... maybe they started reading IJ. congrats. alx730
CA WC Moving Company
Posted: Wed Nov 10 -- I have a new venture moving company I am trying to find a home for ASAP...anyone have a market for this or a direction to point me in... L&C Ins
Superior Access Commission Payments
Posted: Wed Nov 10 -- for this type of business you should try anderson & murison in LA they have their act together and monthly statements are prompt and... pcock1
Done with CPCU 510 & 540, which one next???
Posted: Tue Nov 9 -- There have been some changes to the program since I posted last. The 560 is no longer a required course. There are a handful of electives... susqugirl
Direct mail
Posted: Tue Nov 9 -- I'm looking for a good direct mailer Co. in california. i've heard of places that print and mail them for 41-44 cents... JAM
umbrella underlying limits
Posted: Tue Nov 9 -- Why would the owner rely on the tenant to keep the policy on the building in force? Thats overhead that should be built into the rent. What... FFA

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Focus on Professional Liability/PLUS; Habitational/Dwellings; Agents E&O Survey
November 1, 2010

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